Wednesday, June 18, 2008 | 1:50 p.m.
Gaming giant Station Casinos will now have to make do with one Fertitta instead of two.
Station President Lorenzo Fertitta will be stepping down from the company to assume the role of chairman and chief executive of Zuffa LLC, which owns the wildly successful Ultimate Fighting Championship franchise, Station announced today.
Older brother Frank Fertitta III will remain chief executive and chairman of Station Casinos and assume Lorenzo's duties as president.
Lorenzo’s move has nothing to do with Station going private last year and everything to do with the global expansion of the UFC, which has grown into a preeminent brand in the sport of mixed martial arts since the Fertittas bought the franchise in 2001.
“They felt it was in the best interest of the two companies - that it was time to divide and conquer,” Station spokeswoman Lori Nelson said.
Both men split their time between both enterprises, though much of their time has been devoted to running Station. Now, Lorenzo will oversee Zuffa operations and lead the brand’s expansion effort. He will keep an active role in decision-making at Station through his position as vice chairman of the board.
Dana White will remain president of Zuffa and the public face of the UFC.